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Sources close to the University of Arkansas Athletic Department have confirmed to Arkansasbusiness.com that Texas A&M University men's basketball coach Billy Gillispie has declined an offer to coach basketball for the UA.

That confirmation comes after a flurry of reports out of Texas that Gillispie had decided to remain, having received a raise and other requests from the A&M board of regents, including a promise to begin construction on a new basketball facility.

The Houston Chronicle reported earlier that Gillispie will receive a new contract that will pay him about $2 million a year. The deal runs through 2012. Meanwhile, construction on a new A&M basketball facility is set to begin Monday. The new facility was among Gillispie's requests should he remain at the school.

Speculation had been that the University of Arkansas would make Gillispie an offer, having fired Razorback basketball coach Stan Heath earlier this week. On Wednesday, the Arkansas Democrat-Gazette quoted UA athletic director Frank Broyles has saying he had made an offer to a prospective candidate, but he didn't say who it was.

The Chronicle story was followed on Wednesday by a report in the Bryan-College Station Eagle that said Texas A&M University Interim President Eddie Davis confirmed to the newspaper that Gillispie would stay at A&M.

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